French President Nicolas Sarkozy is likely to be the latest European leader swept from office during the economic crisis, with voting underway across the country in the second and final round of the presidential election.

Socialist candidate Francois Hollande is expected to win the election despite a last-minute increase in support for the current president, with crowds of supporters cheering Mr Sarkozy as he cast his vote in central Paris.

But the opinion polls suggest he is heading for defeat after five years as France's leader. The eurozone crisis and the country's unemployment have dominated the race this year.

Mr Hollande, who is tipped to win the election, emphasized economic growth and targeted voters weary of spending cuts.

The mild-mannered and popular career politician spent Saturday in Toulouse telling voters he was nervous about the election and "anxious for victory".

Mr Sarkozy's chances dimmed even further when he failed to win critical endorsements from other candidates, especially far right leader Marine Le Pen.

He has been increasingly unpopular among voters and earned a reputation of being a president for the wealthy.

A win by Mr Hollande will give the country its first Socialist president in two decades.

Voters say they believe their country is at a crossroads.

"Depending on the choice that's made, our society can stay European, that's to say French, or it'll become more globalised and disappear," one voter said.

"It's the first time that there's been such a radical and tense campaign. The debate was sometimes worrying," another voter said.

The rest of the European Union, especially Germany, will be closely watching the result amid concern about what it will mean for the region's fragile economy.

Politicians are not allowed to make public comments on election weekend, but Mr Hollande told reporters on Friday he was worried that his lead over Mr Sarkozy would shrink.